Russian economy and currency tanking

D

daviwie

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I suppose for anyone traveling in Russia, this is a great time to buy gear. From what I understand hard currency is in high demand, so if you've got dollars or euros to spend, now wouldn't be a terrible time to go shopping. Anyone happen to have been following prices on eBay over the past few weeks? Any significant changes?
 
I don't think that will have an effect on the gear prices. These guys think in $ and price the gear in $. Getting the same amount of rubles as before is not what they are looking for...
 
Not sure how it really goes but I'd expect they keep prices high. Cameras and lenses don't go bad if stored properly and there always are people wanting to buy funky stuff. My guess is also that plenty of gear has been exhausted and moved from families to seller lots since beginning of 1990's when people realized they can sell cameras for hard currency.
 
It was always been cheaper. But you have to deal with locals on local language and in local currency. If not, you and your English will face $ deals and prices as it mentioned above.
 
Are prices already not low enough?

I don't think I like this appearant vulture attitude. :(
It's oil men who made who recently made big money in Russia.
Not struggling merchants of second hand goods.

I'm maybe a bit idealistic about these things though.
 
f16sunshine said:
Are prices already not low enough?

I don't think I like this appearant vulture attitude. :(
It's oil men who made who recently made big money in Russia.
Not struggling merchants of second hand goods.

I'm maybe a bit idealistic about these things though.
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+1. I don't think they can price these things any lower and put food on the table.
 
f16sunshine said:
Are prices already not low enough?

I don't think I like this appearant vulture attitude. :(
It's oil men who made who recently made big money in Russia.
Not struggling merchants of second hand goods.

I'm maybe a bit idealistic about these things though.
Click to expand...

That's not how exchange rates work.
It is actually a boon for exporters as it creates demand for their product if they are priced in their local currency.

You are not asking them to cut their prices.
 
Huss said:
That's not how exchange rates work.
It is actually a boon for exporters as it creates demand for their product if they are priced in their local currency.

You are not asking them to cut their prices.
Click to expand...

I think the traditional exchange rate - export competitiveness relationship is not very much applicable in the niche second had product (that is not produced anymore - thus, local production cost are not relevant) market...
 
Deflation=excess supply.

Since Russia is an oil exporter and energy exports are a major part of their economy the current oil glut is partially due to U.S hydrolic fracking and also partially due to OPEC not cutting production. (In a way this is another "beggar thy neighbor" economic policy.) Europe looks to be in a rare triple dip recession, and even China's growth is tapering, and these other events also add to the excess energy supply.

Meanwhile the U.S. dollar gains strength as our economy seems to be the most stable.

It has been said that emergency economic policies impacted to deal with the financial crisis caused food prices to rise in certain countries, and hungry people caused "Arab Spring." I hate seeing food being used as a political weapon, but the Russian people will pay for it.

In 2007-2008 here in the U.S. I bought Leica glass when Americans were forced to sell their treasures. Abundant supply caused prices to drop.

Cal
 
When I was in Russia for a month this summer, most of the gear I stumbled into at flea markets wasn't exactly being given away, even in the smaller city I spent the majority of my time in. Most gear wasn't anything really desirable or in particularly great condition when being sold by older people on the sidewalk. Most Feds, Zorkis, etc. were priced quite a bit lower than Russian or Ukrainian sellers on eBay, but nothing crazy. The only thing I ended up buying was a Zenit for 500rub, just because I knew I'd pay that for shipping on eBay. Now, the exchange rate is almost double that of when I visited; I think it was around 35rub/1usd in June.

While it would be fun to go again with the exchange rate this low (hell, stuff was already really cheap in general, especially outside of Moscow), it's kind of sad. I feel bad for my Russian friends that have to deal with foreign goods (Apple products, etc.) already being priced significantly higher than they would be in the US, and now this stacked on top of it.
 
Calzone said:
It has been said that emergency economic policies impacted to deal with the financial crisis caused food prices to rise in certain countries, and hungry people caused "Arab Spring." I hate seeing food being used as a political weapon, but the Russian people will pay for it.

In 2007-2008 here in the U.S. I bought Leica glass when Americans were forced to sell their treasures. Abundant supply caused prices to drop.

Cal
Click to expand...

Well, they shouldn't complain about it, it's the same story of the Big Recession of 2007/2008: in the end there was a price to pay.

hamradio said:
While it would be fun to go again with the exchange rate this low (hell, stuff was already really cheap in general, especially outside of Moscow), it's kind of sad. I feel bad for my Russian friends that have to deal with foreign goods (Apple products, etc.) already being priced significantly higher than they would be in the US, and now this stacked on top of it.
Click to expand...

I'm more sorry for the people who had become dependant on the Russian market and now they can't sell their products anymore there.
 
I don't think it will make much of a difference in prices. When I cleared out some of the soviet camera stuff I had acquired - in the U.S. and as a U.S. seller on ebay - it sold for far less than most overseas sellers were asking. For the common stuff there is really no demand, the actual worth is a lot less than what many are asking.
 
The more the Aussie dollar slides (lowest in 5 years today) the more we export, and we are big exporters, bringing in the dollars.....i wouldn't worry about piddly little items on ebay or where ever costing a few dollars more.
 
tunalegs said:
I don't think it will make much of a difference in prices. When I cleared out some of the soviet camera stuff I had acquired - in the U.S. and as a U.S. seller on ebay - it sold for far less than most overseas sellers were asking. For the common stuff there is really no demand, the actual worth is a lot less than what many are asking.
Click to expand...

Same with me, but in Canada. I'm buying FSU cameras and lenses for myself to try it now, because it wasn't affordable in soviet time for my family.
And ending up with CLA almost every time after purchasing item described as "fully" working. But nobody wants it for the same price here, on local classifieds or on-ebay after I'm selling it back within few months after purchase.
 
The lowering of oil prices led to the falling of the Russian currency, and to the beginning of the end for fracking .... (?)
 
All I know about petroleum is that when Iraq tried to have a subway system planned/built under Baghdad in the 1970's, the French company who did the exploratory digging concluded that wherever they dug up dirt, they found either petroleum or ancient artifacts. There is still no subway in Baghdad.

... oversold?
 
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